Changelog:

Fix StartStopListener callbacks for HTTP Engine V1
Surface playback start/stop events
Make video quality presets localizable
Fixed OSX log message about font definitions
Fixed double wrapping of streams causing stuttering
Added MPEG4 ASP with Qpel support for PS3
Allow 15fps video
MediaInfo link added to the About tab
Updated to latest versions of libraries (codec, jdom, logback and slf4j)
Various stability and speed improvements
Updated JRE autodownload to 7u3 from 7u2
Updated MPlayer and MEncoder to SB28
Updated ImageMagick Convert to 6.7.6
Updated MediaInfo to 0.7.54
More reliable selection of correct audio channels
Improved fast-forward and rewind support

Upgrade Notes:

For 1.23.0 and above:
Just uninstall the older version and install newer one
For versions prior to 1.23.0:
To retain your old settings you may have to copy your old config file/s to a new directory.
To find out where the new directory is on your computer, run the program and go to the Traces tab and look on the 14th line, the line that says "Profile directory:", that is the folder your config files should be saved now.
If you use the "media library / cache" option you should reset it.